The central bank decided last week to bailout PSB, Russia’s No.10 lender by assets, and started an investigation into the bank’s accounts. On Friday, the central bank approved a rescue plan aimed at preventing PSB’s bankruptcy.

A representative for Promsvyazbank Chairman Dmitry Ananyev declined to comment.

The central bank said last week that the bank’s rescue could involve writing off 100 billion rubles ($1.71 billion) in subordinated debt to reduce the amount the regulator needed to spend on the bailout, its third major bailout this year.

The rescue plan approved on Friday triggers the write off of PSB’s subordinated debt, including deposits, loans and bond issues.